Last week, several OFN members testified in Houston, Texas, before the House Financial Services Subcommittee on Oversight and Investigations on the topic of “Examining Discrimination and Other Barriers to Consumer Credit, Homeownership, and Financial Inclusion in Texas.”
U.S. Congressman Al Green (D-TX), Congressman Gregory Meeks (D-TX), Congresswoman Sylvia Garcia (D-TX), and representatives from OFN members and other stakeholders, including National Association of Latino Community Asset Builders (NALCAB), LiftFund, and PeopleFund, also testified to support further access to affordable housing, credit, and banking services in low and moderate income neighborhoods.
“It’s important to recognize that the future strength and competitiveness of the U.S. economy relies on achieving far broader financial inclusion,” NALCAB executive director Noel Poyo said.
Additionally, Poyo’s testimony advocated for local and culturally-relevant solutions with a focus on the role of CDFIs and minority-owned banks in bridging the disparity in access to capital.